Specialty Fashion House reports $9.3 loss following divestment of 5 of 6 brands

Company News

by Anna Napoli

Specialty Fashion House (ASX:SFH) has reported a loss of $9.3 million for the 2018 financial year.

The company says the loss of $9.3 million reflects fair value and transaction-related adjustments associated with the divestment of 5 of its 6 brands.

The fashion company’s sales revenue for continuing operations rose 12.9 per cent to $131.9 million.

Its underlying earnings (EBITDA) of $19.9 million were at the upper end of guidance.

The company retained its City Chic business and says its store network in Australia and New Zealand continues to trade strongly.

Specialty Fashion Hosue says its strong cash position, earnings momentum, and solid cash flow generation, is expected to enable the recommencement of dividend payments.

Shares in Specialty Fashion House (ASX:SFH) closed 1.52 per cent lower to 97 cents yesterday
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.